7th April 2022
Own Correspondent
Standard Chartered Bank Botswana has taken a bold step towards its ambition of becoming the World’s most sustainable and responsible bank by reducing its carbon emissions footprint, recycling waste and saving power with the launch of the Mall Branch Solar installation.
According to the UN, Greenhouse gas concentrations are at their highest levels in 2 million years and they continue to rise. 2015-2019 were the five warmest years on record while 2010-2019 was the warmest decade on record.
As a result, the earth is about 1.1°C warmer than it was in the 1800s and we are at a very real risk of not meeting our Paris Agreement of not allowing global temperatures to rise by 1.5°C.
“Pressures of global warming are not a new concept to any of us here. Regardless of where you sit in terms of the real severity of the global warming threat, none of us can deny that our planet today, is not the planet known to generations before us,” said Lefhoko Moagi, Minister of Mineral Resources, Green Technology and Energy Security.
He said, “The reality is that we live in an ecosystem and where there is a push in one direction, there is a reaction in another. Rising sea levels in low lying areas may in turn mean intense droughts, water scarcity, catastrophic storms and declining biodiversity in other areas, all of which sound a lot more familiar to our context here in Botswana.
Moagi maintained the root cause of this lies in the growing concentrations of greenhouse gases in the atmosphere, creating an ever-thicker blanket. Unfortunately, that concentration only goes up, as more and more people continue to produce at faster rate than we may be able to reduce.
Standard Chartered Bank Botswana’s solaar project has been operational since January, consistently generating in excess of 95% of the daily power usage requirements of the Mall branch. It is also, very common for the system to be generating in excess of 100% of the power needs of the branch.
“For me, for the mandate of my Ministry, and for Botswana – to witness a very real initiative that is both reducing the strain on our power grid and contributing excess power back into the grid is amongst the highest actions of corporate citizenship,” said Moagi.
Moreover, this is Standard Chartered’s second such words-to-action initiative following the launch of their Solar-powered Express Banking Centre in Lobatse last year.
According to officials the energy sector represents 68% of Botswana’s Green House Gas Emissions. Under the Paris Agreement, Botswana committed to reducing its CO2 by 15% by 2030. That target was set almost 6 years ago now, and I understand you are already almost half way there.
But with the initiatives set out in Botswana’s Integrated Resource Plan and under Vision 2036 I know you can not only meet those targets, but significantly exceed them – and I am looking for to seeing even more ambitious NDCs from Botswana at COP 27.
“This is important, as we need every country to raise its level of ambition if we are going to keep 1.5 degrees in sight. Concerted and immediate global efforts are required, and by this, I mean we all have an important role to play – it not just a job for Energy Ministries,” said Sian Price, British High Commissioner to Botswana and UK Special Representative to SADC.
She said, “I was very excited to join the Roof Top Solar programme with my official Residence a few months later – and thrilled that both Standard Chartered and Minister Moagi were able to join me to celebrate that, and other great examples of renewable energy in action in Botswana, at an event to mark the COP 26 Energy Day.”
Standard Chartered Baank Botswana recently launched its first green initiative, Express Banking Centre which serves as a new 24/7 distribution model, offering clients the freedom to transact as and when they please. The Lobatse Express Banking Centre is a fully solar powered centre similar to the one we will be launching here today, which has utilized recycled material (for example, a shipping container) to house it. To ensure we remain sustainable we have employed dry gardening to preserve water. This was our first step to realizing our sustainable goal, of reducing our carbon emissions as a Bank.
“Among our key strategic priorities, we have committed at a Group level, to ensuring that we have a roadmap to accelerating our transition to net zero by 2050. This priority speaks to both our internal desire to reduce carbon emissions as well as the need for us to walk this journey with our clients to ensure that we are all playing our part in the fight against climate change,” said Mpho Masupe, Chief Executive Officer of Standard Chartered Botswana.
The solar system that has been installed at the Mall Branch will;
- Generate an estimated 172,800 kWh of electricity per year,
- Offset P162,744 per year of imported energy from the national grid,
- Displace 10.4 tons of Carbon Dioxide per year
- Export 17,280 kWh of clean energy back to the national grid
- And has a Return on investment of four (4) years
“This – is our own contribution to greening our environment, and we will continue to ensure that we lead the conversation in this regard. Our Sustainability team is working hard to ensure that even as we do Business, we do it in a responsible and sustainable manner,” said Masupe.
He said, “We have as far as possible, reduced the use of paper, such as our account opening process which uses no paper, and single use plastics in the building. We have installed recycling bins to ensure that our own waste is processed correctly. Our brand promise – Here for good, reminds us to always ensure that we play our part in the communities that we exist in and do good for the clients that we serve.”
